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Often it is because you have spent more money than you have taken in. That's simple. However, there's other symptoms: paying bills late, spending money you expect to get, not building a savings account of 8 month's income and so on. Medical bills, illness and other surprises hit us all, but if you have set things up so you are not living paycheck to paycheck, you will find your finances to be more flexible. Check out Suze Orman.
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∙ 12y ago
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What is the single greatest cause of personal bankruptcy?
accumulation of debt
What is the single greatest cause personal bankruptcy?
accumulation of debt
Does personal bankruptcy effect business credit?
In a Proprietorship, the personal bankruptcy of the proprietor may cause shut down of business. Whereas in Partnership and Joint Stock Companies, bankruptcy of Partners, Directors effects business credit immensely as bankers become shy in extending further credits to the company.
Your personal bankruptcy was filed in 2000 can your name be added to a CD account?
If your bankruptcy was "discharged" in 2000, then yes. Discharged means it is done! If you are still in a chapter 13 bankruptcy, still paying the trustee--then no. If the trustee finds out about the CD, it will cause lot of problems.
How do you file for personal bankruptcy?
Seek advice from a professional. Your local bankruptcy attorney is there to help you.
Where can you find information about corporate bankruptcy laws?
Does corporate bankruptcy affect personal credit?
In order to file bankruptcy must you have a bankruptcy attorney?
If you are filing for personal bankruptcy it is not necessary to have a lawyer. If you are filing for business bankruptcy, you must retain a lawyer on your behalf.
Did suze orman file personal bankruptcy?
no
Does business bankruptcy affect personal credit?
If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.
What is personal Bankruptcy?
It is when an indivdual (or married couple) file for bankruptcy rather than a business or corporation.
Can assets be protected from a personal injury judgment by filing bankruptcy?
Yes. Consult a knowledgeable bankruptcy attorney.
Is the debt from a personal lawsuit removed when you file for bankruptcy?
no
